North Carolina is becoming well-known at the new hot spot for real estate investing. The area is a cluster of cities, and smaller townships including Raleigh, Cary, Durham, and Chapel Hill and is home to several universities and business campuses.
Most individuals are familiar with Raleigh, as it is the state capital and has gathered quite a bit of media attention. Savvy investors, however are looking at neighboring Durham as well and are benefitting from more attractive pricing and appreciation projections.
CNN Money recently posted its local forecasts for this metropolitan area. Unlike many US markets, both Raleigh and Durham MSAs are projected to have positive appreciation in the upcoming year. The surprise is that Durham (Raleigh's NW neighbor) is expected to outperform Raleigh in both 2008 and 2009. This is likely due to the lower median home price, which makes it an easier market to navigate for budding investors. In addition, Research Triangle Park (RTP), which is located in South Durham is the nation's largest research park and is on the upswing. More about RTP can be found at http://www.rtp.org/main/
All in all, a solid portfolio mix is the key to successful investing. This means a mix of property types and locations. So, for those of you considering investment opportunities in North Carolina, be sure not to overlook Raleigh AND Durham for your next acquisition!
Visit the CNN site for more info on the 2008-2009 forecast:
http://cgi.money.cnn.com/tools/homepricedata
Happy Investing!
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